We often think of technology as a driver for innovation in the financial industry. The word “technology” is in some ways synonymous with new and better. But not all technology pushes the envelope further for FIs.
We look at the cross-section of the industry to see how different FIs are navigating the question of technology in different areas such as retail, SMBs, and payments.
April marks Financial Literacy Month. While financial education was once overlooked, there is now an increased dialogue surrounding this topic as firms are exploring unconventional methods to capture consumers' interest in financial education as a starting point.
We take a look at how Capital One is zeroing in on financial education for consumers of all ages, while Bank of America has recently entered into a new partnership to promote financial literacy among women entrepreneurs.
Chime is introducing an adult coloring book that can help consumers manage finances and make art at the same time, in partnership with two influencers and T-Pain.
The coloring book aims to make managing finances fun and non-stressful and the amplification strategies around the book show how neobanks are reimagining consumer engagement while most traditional FIs are still struggling with getting consumers to read their education resources.